Wednesday, 14 May 2014

Step 22. Know your Sales Funnel

What is sales funnel and why I find it important?
Sales funnel is the process on how you get to sell your offer to your market. The tool is constructed of the following stages of the sales process:
  • Awareness – the customer is aware of the existence of a product or service
  • Interest – actively expressing an interest in a product group
  • Desire – aspiring to a particular brand or product
  • Action – taking the next step towards purchasing the chosen product
The overview of the sales funnel is in the picture above. This one is more generic and should be specified depending on your industry and the offer/goods/items you want to sell because it's slightly differs.

What is this instrument for:
  • helps to understand what stages of sales process you need to go through to get actual order
  • helps to calculate how many "interested" become "leads" and how many leads actually buy/order
  • represents your sales cycle visually and gives opportunity to have an overview and see what can be improved in the process
  • helps you to take into account details of selling your product that you may not notice in the global overview
  • can be used for comparing with similar products or overall product sales
In case you want to have a look at the examples, feel free to get them here and here and some images from Google.